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M&T Bank Personal Loans Calculator & Overview

Updated 19 Aug 2023

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M&T Bank Corporation (Manufacturers and Traders Trust Company) was founded in 1856 and is headquartered in Buffalo, New York. M&T Bank has over $155 billion in assets. They have a broad range of financial products such as loans, credit cards, mortgages and refinancing services, insurance, Certificate of Deposit (CDs), and individual retirement accounts (IRAs).

If you want to cover unforeseen bills or finance major life events and you’re sure that you have the means to take out a personal loan, a M&T Bank personal loan may be a viable option. Calculate your possible payments, monthly and overall, using the M&T Bank personal loans calculator.

Personal loans have an annual percentage rate (APR) varying from around 3% to 36% APR. The interest rates you can receive will depend on a range of factors, such as your credit score, income, and debt-to-income ratio. On a loan of $10,000 over 5 years, the cost could vary between $10,781 and $21,680. The interest cost is between $781 and $11,680.

A quick guide to M&T Bank personal loans

When you don’t have the savings to cover an important purchase or bill, a personal loan is usually a better alternative to credit cards. Personal loans from M&T Bank, for example, can be used for almost anything including covering medical bills, paying for home repairs, and consolidating debt. Read on to find out if this product is your best option.

Listed below are the main features and benefits of a personal loan from M&T Bank:

Loan amounts: minimum $2,000; maximum $50,000.
Loan terms: between 12 and 84 months.
Application fee: $0.
Origination fee: $0.
Prepayment penalty: $0.
Interest rates: from 7.24% to 15.24% APR.
Loan option: without collateral.
Discounts: 0.15% to 0.50% rate discount for automatic payments.

Requirements for M&T Bank personal loans

M&T Bank does not have a specific list of borrower criteria. However, most lenders expect loan applicants to submit documents related to the following requirements:

Proof of identity: This is to determine if you’re a United States citizen or permanent resident and if you’re at least 18 years of age. You’ll typically need to present two forms of identification, such as birth certificate, driver’s license, passport, or social security card.
Proof of address: This is to determine if you are a permanent US citizen or resident. You can usually use one of the following: utility bill, proof of insurance on your home, lease/rental or vehicle, lease or rental agreement.
Proof of capacity to pay: Lenders need to be confident that you will repay the loan. If you are traditionally employed, submit a copy of your pay stubs, W-2s and 1099s, employer statement. If you are a business owner or a self-employed applicant, submit a copy of your tax returns, bank statements, or annuity statements.
Good credit score and DTI ratio: Lenders require applicants to meet a certain credit score threshold (beyond 700) and debt-to-incomeI ratio for approval (lower than 40%). However, these requirements aren’t set in stone.

M&T Bank personal loan calculator

Loan amount

Term

Provider

Product Information

EST Monthly
Repayment

Interest
Rate

Repayment
Period

Loan
Amounts

Sort loans by

Loan Amount

$20,000

Term

3 months

Change

M&T Bank personal loans

Estimated Month Repayments

$611 Inclusive of fees

Interest Rate

6.24%
APR

Repayment Period

12 months
to 84 months

Loan Amounts

$2,000
to $50,000

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Need some extra cash? With a variety of personal loans from M&T Bank, you can choose the terms that are right for you, get great rates, and enjoy a fast approval process.

Featured

Wells Fargo personal loans

Estimated Month Repayments

$606 Inclusive of fees

Interest Rate

5.74%
APR

Repayment Period

12 months
to 84 months

Loan Amounts

$3,000
to $10,000

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Checking and savings accounts and credit cards for your everyday business expenses and cash management.

Featured

Eastman Credit Union personal loans (Shared Secured Personal Loan)

Estimated Month Repayments

$848 Inclusive of fees

Interest Rate

29.90%
APR

Repayment Period

12 months
to 12 months

Loan Amounts

$1,000
to $20,000

Go to site

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Minimum and maximum loan periods vary between 1 month and 10 years. Annual Percent Rates (APR) vary between 4.99% and 35.99% p.a. Total interest repayments vary between $592 and $916 over the life of the loan. *APR is based on an unsecured loan of $20,000 over a term of 3 years. WARNING: This APR is true only for the examples and may not include all charges. Different terms, fees or loan amounts might result in a different APR. These rates can change without further notice.

Pros

Flexible loan amounts.
Easy to budget repayments – term lengths up to seven years.
No collateral required (unsecured).
Rate discounts for automatic payments.
Same day funding.

Cons

Available only in CT, DE, ME, MD, MA, NH, NJ, NY, PA, VT, VA, DC and WV.
The lender doesn’t make its full eligibility criteria clear.
No credit score and income requirements listed.

Frequently asked questions

What are the minimum and maximum loan amounts for a M&T Bank personal loan?

You can borrow between $2,000 and $50,000.

What interest rates does M&T Bank personal loan offer?

Interest rates for a personal loan range from 7.24% to 15.24%%.

What are the repayment terms for a M&T Bank personal loan?

You have between 12 and 84 months to repay your personal loan.

How can I qualify for a rate discount?

To qualify for a rate discount of your personal loan from M&T Bank, make sure to set up automatic payments through your checking account.